Fed Integrity and Independence Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5499 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5499 To amend the Federal Reserve Act to prohibit dual appointments of certain employees of the Federal Reserve System, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 18, 2025 Mr. Vargas introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Federal Reserve Act to prohibit dual appointments of certain employees of the Federal Reserve System, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Fed Integrity and Independence Act of 2025''. SEC. 2. FINDINGS; SENSE OF CONGRESS. (a) Findings.--Congress finds the following: (1) The independence of the Federal Reserve System from political interference from the President is fundamental to the effective operation of the central bank. (2) Congress structured the Federal Reserve System to ensure that its monetary policy decisions focus on achieving long-run goals and do not become subject to political pressures from the President that could lead to undesirable outcomes. (3) To protect this independence, Congress made it so members of the Board of Governors of the Federal Reserve System are appointed for staggered 14-year terms, and the Chairman of the Board of Governors is appointed for a four-year term. (b) Sense of Congress.--It is the sense of Congress that it is not appropriate for any employee appointed by the President--whether they are on leave or not--to serve as a member of the Board of Governors of the Federal Reserve System. SEC. 3. PROHIBITION OF DUAL APPOINTMENT. (a) Board of Governors.--The fourth sentence o